Mind Technology jumps on receiving orders worth $7.7 mln

Mind Technology

06/07/2022 22:04

** Shares of marine exploration technology provider Mind
Technology Inc  MIND.O  up ~18% at 98 cents after the bell 
    ** Company says it has received orders for sonar and source
controller systems totaling about $7.7 mln  urn:newsml:reuters.com:*:nPn8xCKcxa
    ** CEO Rob Capps says all the orders are expected to be
completed and delivered in current fiscal year 
    ** "Due to liquidity demands to complete these, and other,
orders.. we feel it prudent to defer the payment of the
second-quarter dividend on our Series A Preferred Stock," Capps
    ** Up to Wednesday's close, stock had fallen ~51% this year

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam))